Autoweb.com Inc.'s stock price is so low, it could lose its listing on the Nasdaq Stock Market.
Nasdaq has told Autoweb it has failed to meet the minimum bid requirements for stocks listed on the exchange. The stock has been trading under $1 per share since Oct. 20, according to Yahoo! Finance.
Autoweb.com has requested a hearing before the Nasdaq Qualifications Panel to review Nasdaq's finding. The stock will be traded on the Nasdaq pending a decision by the panel.
If Autoweb's shares are delisted, the company said it would attempt to have its stock traded over the counter on the NASD OTC Bulletin Board.
Autoweb.com, a Santa Clara, Calif., car buying service, went public in March 1999. The company sends online referrals to dealers for a fee.
A stock history from Yahoo! Finance shows the stock price peaked at $36 per share and traded as high as $11 in the last 12 months.
In other dot-com news:
Autobytel.com, an Irvine, Calif., online buying service, has expanded its overseas presence to include Spain, joining the United Kingdom, Sweden and the Netherlands. Autobytel intends to be present in France and Germany by year end.
AutoTrader.com, an online auto classifieds service, has formed partnerships with Experian, an information services company, and Consumer Guide, a provider of auto evaluations, purchasing advice and pricing information. The partnerships make detailed vehicle histories available to AutoTrader.com customers for a fee.
More auto manufacturers are tackling inappropriate use of the Web at work, according to Websense Inc., a company that produces software to help employers monitor and restrict Internet use. Forty-five manufacturers worldwide use the Websense software.
North Carolina online shoppers can purchase auto insurance from Progressive Insurance Co., on Progressive.com. The free, 24-hour service allows consumers to get insurance quotes, buy a policy online and be covered immediately.
Staff Reporter Donna Harris can be reached at [email protected] or (540) 668-7295